Expectations From Union Budget 2023: The Great Leap Forward
1 year, 10 months ago

Expectations From Union Budget 2023: The Great Leap Forward

News 18  

As an annual accounting exercise for the nation, the Union Budget has been a fairly prosaic thing with incremental steps, underlined– almost always– by a constraint from the resources available. The last year’s budget for FY23 speeded things up considerably when capital expenditure for infrastructure development was enhanced by 24 percent to Rs 7.5 trillion, more than double of what it was in FY20. Accordingly, the amount set aside for domestic defence procurement in 2022 is 68 percent of the defence services capital acquisition budget of Rs 1.24 lakh crore. India put out Rs 2.5 trillion, which, in turn, is expected to add almost one percentage point to GDP per annum and create over 4 million new jobs. Budget 2023 must lay strong foundations and glide paths for Amrit Kaal even as it looks and feels like an election-year budget.

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History of this topic

India's Defence Production Hits ₹1.27 Lakh Cr
2 months, 4 weeks ago

India's Defence Production Hits ₹1.27 Lakh Cr

Deccan Chronicle  

New Delhi:India's defence production reached a record high of ₹1.27 lakh crore in 2023-24, with exports of military hardware and weapons to over 90 countries, defence minister Rajnath Singh announced on Wednesday. The 'Make in India' programme, introduced under Prime Minister Narendra Modi’s leadership, has driven significant reforms across sectors, particularly in defence, according to Singh. He highlighted the country's …

India’s defence budget 2024: Hits and misses
4 months, 1 week ago

India’s defence budget 2024: Hits and misses

Hindustan Times  

The defence sector budget allocation remained the same as the interim budget allocation, with finance minister Nirmala Sitharaman presenting the full budget on July 23, 2024, after the formation of the new government. Even though the budgetary allocation to the Defence Research and Development Organisation has increased to ₹23,855 crore in FY 2024-25 from ₹23,263.89 crore in FY 2023-24, there …

Budget 2024: Defence gets more at ₹6.22 lakh crore, boost for BRO’s projects
5 months ago

Budget 2024: Defence gets more at ₹6.22 lakh crore, boost for BRO’s projects

The Hindu  

Union Finance Minister Nirmala Sitharaman allocated ₹6.22 lakh crore for the defence sector in 2024-25 which is almost the same as in the interim Budget presented in February. Follow LIVE updates from the Union Budget 2024 on July 23, 2024 The allocation of ₹6.22 lakh crore for the defence sector is 4.79% higher compared to the Budget Estimates of last …

India to spend 12.9% of Budget 2024 on defence. But how does it stack up against China?
5 months ago

India to spend 12.9% of Budget 2024 on defence. But how does it stack up against China?

Firstpost  

The Centre has allocated Rs 6.21 lakh crore from the Union Budget to defence spending – up from 5.94 lakh crore in 2023. The defence ministry has kept aside Rs 1.05 lakh crore – 75 per cent of the modernisation budget – to buy from Indian firms. The Centre also increased the defence pension budget to Rs 1.41 lakh crore …

Union Budget 2024: Sector-Wise Allocation Puts Defence At The Top. Full Details Inside
5 months ago

Union Budget 2024: Sector-Wise Allocation Puts Defence At The Top. Full Details Inside

ABP News  

Budget 2024: Finance Minister Nirmala Sitharaman presented the Union Budget 2024 on Tuesday in Parliament. Defence: For FY25, the defence sector will receive an allocation of Rs 6.21 lakh crore, according to Finance Minister Nirmala Sitharaman. Education: During the presentation of the Budget 2024 on Tuesday, Finance Minister Nirmala Sitharaman declared that the central government would allocate Rs 1.48 lakh …

India defence budget 2024: ₹6.21 lakh crore allocated; minister Rajnath Singh reacts
5 months ago

India defence budget 2024: ₹6.21 lakh crore allocated; minister Rajnath Singh reacts

Hindustan Times  

India has set aside ₹6,21,940 crore for defence spending in the Union Budget 2024-25 – up from last year's outlay of ₹5.94 lakh crore – finance minister Nirmala Sitharaman announced as she presented the Union Union Budget 2024 on Tuesday. The total allocation to the defence sector is 12.9 per cent of the total budget of the government of India …

Budget 2024: How much defence funding was allocated during the interim budget passed in February?
5 months ago

Budget 2024: How much defence funding was allocated during the interim budget passed in February?

India TV News  

In a modest hike, the government had in its last interim budget, increased the defence budget to Rs 6.21 lakh crore for 2024-25 from last year's allocation of Rs 5.94 lakh crore and announced an ambitious scheme for "deep-tech" technologies in the military domain. In the interim Union budget presented in Parliament by Finance Minister Nirmala Sitharaman in February, a …

2024 Interim Budget | Government to consolidate the demand of three Services in defence allocation
10 months, 3 weeks ago

2024 Interim Budget | Government to consolidate the demand of three Services in defence allocation

The Hindu  

In a significant measure to bring jointness in the procurements of the armed forces, the Government has decided to consolidate the demand of the three services in the capital head of the defence budget based on similar items of expenditure such as land, aircraft and aeroengines, heavy and medium vehicles among others. The allocation of ₹6.2 lakh crore is 4.72% …

Defence Budget 2024: Govt Allocates Rs 6.2 Lakh Crore, Launches New Scheme To Boost Deep-Tech
10 months, 3 weeks ago

Defence Budget 2024: Govt Allocates Rs 6.2 Lakh Crore, Launches New Scheme To Boost Deep-Tech

ABP News  

New Delhi: In the Interim Union Budget 2024, Finance Minister Nirmala Sitharaman on Thursday allocated Rs 6.21 lakh crore for defence spending, a hike of Rs 27,000 crore compared to the previous year. In the budget, a total of Rs 1.72 lakh crore was set aside to the military for capital expenditure that largely includes purchasing new weapons, aircraft, warships, …

India sets aside ₹6.21 lakh crore for defence, announces new scheme for deep tech
10 months, 3 weeks ago

India sets aside ₹6.21 lakh crore for defence, announces new scheme for deep tech

Hindustan Times  

India on Thursday set aside ₹6.21 lakh crore for defence spending in the interim budget for 2024-25, with the defence ministry saying that the critical sector continues to receive the highest allocation among all ministries. India’s defence budget stood at ₹5.93 lakh crore last year, including a capital outlay of ₹1.62 lakh crore. “A new scheme will be launched for …

Budget 2024: More Power to Infrastructure as Capex Outlay Increased to Rs 11.11 Lakh Crore
10 months, 3 weeks ago

Budget 2024: More Power to Infrastructure as Capex Outlay Increased to Rs 11.11 Lakh Crore

News 18  

Ensuring more power to infrastructure development for economic growth and employment creation, a large sum of Rs 11,11,111 crore has been set aside as the capital expenditure outlay in the interim budget 2024. “Building on the massive tripling of the capital expenditure outlay in the last four years, resulting in a huge multiplier impact on economic growth and employment creation, …

Budget may focus on welfare, infra, adhere to fisc glide path
10 months, 3 weeks ago

Budget may focus on welfare, infra, adhere to fisc glide path

Hindustan Times  

New Delhi India will meet its fiscal deficit target of 5.9% of GDP in 2023-24, and largely adhere to the envisaged glide path to bring it below 4.5% by 2025-26 on the back of robust GDP growth, buoyant tax collections, and better targeting of expenditure, officials familiar with the matter said, adding that public spending on welfare schemes and infrastructure …

Budget 2024: Infra, defence, railways could be in focus: Arpit Jain
10 months, 3 weeks ago

Budget 2024: Infra, defence, railways could be in focus: Arpit Jain

Live Mint  

Arpit Jain, Joint Managing Director at Arihant Capital Markets expects the government to keep infrastructure, defence, and railways in focus in the Interim Budget 2024. In an interview with Mint, Jain said various sectors have already experienced expectations-driven rallies, but there are significant opportunities in the infrastructure and capital routes sectors. In anticipation of the Interim Budget 2024, our focus …

Armed forces wait for a funds boost from Budget
10 months, 4 weeks ago

Armed forces wait for a funds boost from Budget

Hindustan Times  

Next week, the Union government will place an interim budget before Parliament. The Union budget pays for maintaining the Army, Navy and Air Force and provides support to defence public sector units and the research and development related to defence. The Army’s budget in 2023-24 shows that 70% of the 3.41 lakh crore allocation went to salaries and pensions, while …

Union Budget 2024 Expectation: Defence Sector Seems Positive On Upcoming Budget
10 months, 4 weeks ago

Union Budget 2024 Expectation: Defence Sector Seems Positive On Upcoming Budget

ABP News  

The Indian defence sector finds itself at a pivotal moment amid simmering geopolitical tensions and an increased emphasis on self-reliance in strategic technology. With the Union Budget 2024 announcement scheduled for February 1, the defence sector expects some adjustments in fund allocations. In the budget for the fiscal year 2023-24, the defence sector was allocated Rs 5.94 lakh crore, marking …

Army executes contracts worth ₹7600 crore under emergency procurements
1 year, 4 months ago

Army executes contracts worth ₹7600 crore under emergency procurements

The Hindu  

The armed forces are currently executing the fourth tranche of Emergency Procurements and the Army has so far signed 49 contracts worth ₹7600 crore and another 34 contracts of a similar amount are lined up and expected to be concluded by end-September, according to defence sources. “The 49 contracts cater for capabilities ranging from mobility solutions to communication systems, energy …

India's defence exports reach all-time high of nearly Rs 16,000 crore in 2022-23
1 year, 8 months ago

India's defence exports reach all-time high of nearly Rs 16,000 crore in 2022-23

India Today  

India's defence exports reached an all-time high of Rs 15,920 crore in the financial year 2022-23, over a 10-times increase since 2016-17. The rising defence exports and participation of 104 countries in Aero India 2023 are proof of India’s growing defence manufacturing capabilities. A clear manifestation of India’s talent and the enthusiasm towards ‘Make in India.’ It also shows the …

Budget 2023: Jeremy Hunt reveals £11bn for defence spending
1 year, 9 months ago

Budget 2023: Jeremy Hunt reveals £11bn for defence spending

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Jeremy Hunt said Rishi Sunak’s government would add £11bn to Britain’s …

China boosts defence budget by 7.2% amid 'security challenges'; Where does India stand?
1 year, 9 months ago

China boosts defence budget by 7.2% amid 'security challenges'; Where does India stand?

India TV News  

China's defence budget: China, which has been facing an economic slowdown, has announced to increase in the defence budget by 7.2 this year. China sets economic growth at around 5% The top economic official set this year’s growth target at “around 5%” following the end of anti-virus controls that kept millions of people at home and triggered protests. According to …

75 percent of defence capital budget earmarked for domestic firms: Rajnath Singh
1 year, 10 months ago

75 percent of defence capital budget earmarked for domestic firms: Rajnath Singh

Deccan Chronicle  

NEW DELHI: In a major move to push “Make in India”, defence minister Rajnath Singh on Wednesday announced that 75 per cent of funds allocated in Union Budget 2023-24 for equipping the Army, Navy and Air Force with new weapons and technology will be spent on purchases from domestic industry. In the Union Budget, the capital outlay which goes in …

Defence Budget 2023-24: Neither Here nor There
1 year, 10 months ago

Defence Budget 2023-24: Neither Here nor There

The Quint  

The meagre increase in the military's capital budget is disheartening for military planners, who can see their fiscal room for manoeuvre shrinking. The procurement of Rafale-M jets for the aircraft carrier, INS Vikrant, and Project-75I for submarine acquisition will almost certainly be on hold this year. The pension outlay has been increased this year to Rs 1.38 lakh crore, up …

How Union Budget 2023-24 captures the true essence of Amrit Kaal
1 year, 10 months ago

How Union Budget 2023-24 captures the true essence of Amrit Kaal

Firstpost  

PM Modi questioned the obsolete way of running an economy, ushered in a digital revolution in India and has showcased to the world that India from being among the “fragile five”, is today the world’s fifth largest economy in terms of nominal GDP “The first lesson of economics is scarcity. India’s rising global profile is due to several accomplishments under …

Budget 2023: Centre's vision for 'Amrit Kaal' is a technology-driven, knowledge-based economy
1 year, 10 months ago

Budget 2023: Centre's vision for 'Amrit Kaal' is a technology-driven, knowledge-based economy

Firstpost  

With emphasis on AI, 5G and technology and a focus on Green Growth, the Union Budget 2023-24 has emphasised on creating opportunities with sustainability. This is a very forward-looking budget and will most certainly help key stakeholders utilise opportunities for higher growth Finance Minister Nirmala Sitharaman presented a blueprint for an improved economy and reiterated her intention to bring the …

India keeps aside Rs90,000 Cr in Budget 23-24 for fuel, ammo, spares with eye on China, Ukraine war
1 year, 10 months ago

India keeps aside Rs90,000 Cr in Budget 23-24 for fuel, ammo, spares with eye on China, Ukraine war

Firstpost  

This amount, which is around Rs 90,000 crore will be used for maintenance of weapons, equipment and other assets, replenishing stocks of fuel and ammunition and procurement of critical spares along with other capabilities. This amount excludes pay and other allowances New Delhi: Even as India’s defence budget saw a significant hike of around 13% for the financial year 2023-24, …

Tax-Capex double engine in Union Budget 2023-24
1 year, 10 months ago

Tax-Capex double engine in Union Budget 2023-24

Hindustan Times  

Finance minister Nirmala Sitharaman on Wednesday presented a Budget that continued her government’s emphasis on capital investment, with a record ₹10 lakh crore spend planned in 2023-24, sought to encourage taxpayers to spend more with tax cuts, and announced a ₹35,000 crore expenditure on energy transition even as she managed to reduce the fiscal deficit to 5.9% from 6.4% this …

Defence Ministry says increased budget allocation will boost border infrastructure and connectivity
1 year, 10 months ago

Defence Ministry says increased budget allocation will boost border infrastructure and connectivity

Firstpost  

New Delhi: With India facing up to a belligerent China along the Line of Actual Control, the Indian government has initiated a slew of development projects at the Himalayan frontiers. Even as Union Finance Minister Nirmala Sitharaman announced a big hike of around 13% in the defence budget for the 2023-24 fiscal period, a significant amount was also devoted to …

Budget 2023 | Defence budget rises 13%; revised estimate for pension rises
1 year, 10 months ago

Budget 2023 | Defence budget rises 13%; revised estimate for pension rises

The Hindu  

The Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman on Wednesday allocated ₹5.94 lakh crore for the Defence Ministry, a 13% increase year-on-year from last year’s budget estimates. The overall revised estimates for 2022-23 for defence stood at ₹5.85 lakh crore and this year’s allocation represents a 1.5% increase. Of this year’s defence budget, ₹2.7 lakh crore is …

Budget 2023: Defence spending increased by 13% to Rs 5.94 lakh crore
1 year, 10 months ago

Budget 2023: Defence spending increased by 13% to Rs 5.94 lakh crore

India Today  

Finance Minister Nirmala Sitharaman on Wednesday earmarked Rs 5.94 lakh crore for the Defence Ministry for the financial year 2023–24, which is a hike of around 13 per cent compared to last financial year. The allocation for the Defence Ministry is to be 13 per cent higher than what it was allocated in the Union Budget last year, which was …

Budget 2023-24: PM Modi lauds Budget, says 'Amrit Kaal’s first budget provides foundation for developed India'
1 year, 10 months ago

Budget 2023-24: PM Modi lauds Budget, says 'Amrit Kaal’s first budget provides foundation for developed India'

Firstpost  

This budget is for a sustainable future further encouraging green energy, green growth, green infrastructure, and green jobs. New Delhi: Prime Minister Narendra Modi lauds the Union Budget 2023-24 presented by Union Finance Minister Nirmala Sitharaman. Calling it “Amrit Kaal’s first budget,” the PM said that the Budget gives priority to the deprived and will fulfil the dreams of the …

Budget 2023: Railways get highest ever 2.40 lakh crores capital outlay
1 year, 10 months ago

Budget 2023: Railways get highest ever 2.40 lakh crores capital outlay

Op India  

Finance Minister Nirmala Sitharaman on Wednesday announced Rs 2.40 lakh crore of capital outlay for the development of Indian Railways. “The Indian Railways capital outlay has been set at 2.40 lakh crore, highest ever; 9 times of what was in 2013,” the Finance Minister was quoted on February 1. According to the reports, the allocation of Rs 2.40 lakh crores …

Upcoming budget to accelerate Make in India momentum in defence sector
1 year, 10 months ago

Upcoming budget to accelerate Make in India momentum in defence sector

India TV News  

With the Union Budget for 2023 set to be announced soon, there is a lot of anticipation about whether it will provide the necessary impetus to speed up the momentum for Make in India in defence. BUDGET 2023: FULL COVERAGE One of the main challenges facing the defence sector in India is the lack of a robust domestic defence industry. …

Kamal Davar | More bangs for the buck: What FM must ensure for the military
1 year, 10 months ago

Kamal Davar | More bangs for the buck: What FM must ensure for the military

Deccan Chronicle  

On February 1, Union finance minister Nirmala Sitharaman will be presenting the anxiously awaited Union Budget for the fiscal year 2023-24. Most analysts surmise that, notwithstanding the overall financial health of the nation, the defence budget owing to diverse forthcoming challenges may witness a hike of 10-15 per cent in allocations and thus be in the region of Rs 6.6 …

Budget 2023: Here's How Much Govt Has Allocated To Defence Sector In Last Five Years
1 year, 10 months ago

Budget 2023: Here's How Much Govt Has Allocated To Defence Sector In Last Five Years

ABP News  

The announcement of the Union Budget for the year 2023-2024 is just a few days away. Take A Look At The Share Of Funds Allocated To Defence Sector In The Union Budget In Last Five Years: 2018-2019 In the year 2018-19, the Ministry of Defence was allocated Rs 4,04,365 crore for expenditure across the various services, production establishments, and research …

India witnessing transitional phase towards self-reliance in defence sector: Rajnath Singh
2 years, 5 months ago

India witnessing transitional phase towards self-reliance in defence sector: Rajnath Singh

Firstpost  

He said the defence ministry has set a target of Rs 1.75 lakh crore of defence production by 2025, which includes export of Rs 35,000 crore New Delhi: India is witnessing a transitional phase towards self-reliance in defence sector and senior officials of defence PSUs should work together to ensure that their companies are among world’s best, Defence Minister Rajnath …

Defence Diary: Eyeing Rs 35,000 Crore in Export, India's Import Ban List a Good Start to Tap into Foreign Markets
2 years, 7 months ago

Defence Diary: Eyeing Rs 35,000 Crore in Export, India's Import Ban List a Good Start to Tap into Foreign Markets

News 18  

The chatter lately around India’s arms exports, which has grown louder after India clinched an impressive $375 million BrahMos Supersonic Cruise Missile deal with Philippines, drove me to the thick official data available on the subject. India exports Personal Protective Equipment, Offshore Patrol Vessels, ALH Helicopter, SU Avionics, Bharati Radio, Coastal Surveillance Systems, Kavach MoD II Launcher and FCS, Spares …

Make in India: Defence manufacturing push, projects & need explained
2 years, 7 months ago

Make in India: Defence manufacturing push, projects & need explained

The Hindu  

With India’s defence deals with Russia in a quandary amid the Russia-Ukraine war, the Centre has stressed on a renewed push for indigenous manufacturing of defence equipment, urging foreign and domestic companies alike to invest in India. In the backdrop of the India-U.S. 2+2 dialogue, Mr. Singh invited U.S. companies to invest in India, saying “US-India relationship is built on …

Defence Ministry Forms Panel to Look into Capital Budget Spend on Domestic Purchases
2 years, 8 months ago

Defence Ministry Forms Panel to Look into Capital Budget Spend on Domestic Purchases

News 18  

The Ministry of Defence has set up a committee headed by a senior government official to oversee expenditure of the capital budget earmarked for procurements from the domestic industry in 2022-23 and ensure its full utilisation, News18 has learnt. News18 was the first to report on April 9 that the ministry, in 2021-22, has met the set target of spending …

India to boost arms output, fearing shortfall from Russia
2 years, 8 months ago

India to boost arms output, fearing shortfall from Russia

Associated Press  

NEW DELHI — India on Thursday said it would ramp up its production of military equipment, including helicopters, tank engines, missiles and airborne early warning systems, to offset any potential shortfall from its main supplier Russia. “Our objective is to develop India as a defense manufacturing hub,” Defense Minister Rajnath Singh said Thursday while releasing a list of military equipment …

India to boost arms output, fearing shortfall from Russia
2 years, 8 months ago

India to boost arms output, fearing shortfall from Russia

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. "Our objective is to develop …

Collaboration with Private Industry to Meet Defence Needs Right Call, Bureaucracy Must Not Scuttle It
2 years, 10 months ago

Collaboration with Private Industry to Meet Defence Needs Right Call, Bureaucracy Must Not Scuttle It

News 18  

National security is so closely linked to economy that a country cannot sustain continued expenditure on defence unless it is backed by a vibrant economy. India now takes prides in being home to world-class private industry which is capable of manufacturing even the most sensitive and technologically advanced equipment, probably with foreign collaboration and technology sharing, hence, they must be …

Budget 2022: FM Nirmala Sitharaman Lays Long-term Blueprint for Amrit Kal
2 years, 10 months ago

Budget 2022: FM Nirmala Sitharaman Lays Long-term Blueprint for Amrit Kal

News 18  

This is the second Budget in the midst of a pandemic that warranted careful manoeuvring between growth, inflation and expenditure. Finance Minister Nirmala Sitharaman has done a fine job by laying a long-term blueprint for the ‘Amrit Kal’ and has announced various short-term measures that will maintain the growth momentum or K-shaped recovery of the economy. The focus on the …

Union Budget 2022 | Marginal hike in defence budget, emphasis on Make in India
2 years, 10 months ago

Union Budget 2022 | Marginal hike in defence budget, emphasis on Make in India

The Hindu  

In a further push for Make in India in defence,the Union government on Tuesday announced additional measures to boost domestic manufacturing and reduce imports. Of the ₹5.25 lakh crore for defence this year, the revenue allocation is ₹2.33 lakh crore, capital allocation ₹1.52 lakh crore and defence pensions ₹1.19 lakh crore. Within this, of the ₹1.52 lakh crore capital allocation …

Budget 2022: With IOR Focus, Navy Gets 43% Capital Outlay Hike, Army Modernisation Funds Dip 12.2%
2 years, 10 months ago

Budget 2022: With IOR Focus, Navy Gets 43% Capital Outlay Hike, Army Modernisation Funds Dip 12.2%

News 18  

Emphasising the central government’s focus on the Indian Ocean Region and overall maritime security, union finance minister Nirmala Sitharaman on Tuesday announced a massive jump of around 43 per cent in the modernisation funds of the Indian Navy in the defence budget for 2022-23 at Rs 47,590.99 crore. The Indian Air Force retained the biggest share of the forces’ capital …

Union Budget 2022-23 seeks to lay foundation for India's growth over next 25 years, says Nirmala Sitharaman
2 years, 10 months ago

Union Budget 2022-23 seeks to lay foundation for India's growth over next 25 years, says Nirmala Sitharaman

Firstpost  

The finance minister said the government’s focus will continue on boosting public investment to modernise infrastructure New Delhi: Union Budget 2022-23 will lay the foundation for India’s economic growth and expansion for the next 25 years, Finance Minister Nirmala Sitharaman said while presenting the budget in the Lok Sabha on Tuesday. “This Union Budget seeks to lay the foundation and …

Budget 2022: Rajnath Singh welcomes announcement for defence sector
2 years, 10 months ago

Budget 2022: Rajnath Singh welcomes announcement for defence sector

India TV News  

Highlights Defence Minister Rajnath Singh said the budget outlines the govt's focus on 'Aatmanirbharta' Rajnath said substantial amounts allocated towards research and development in several sectors It's a growth oriented Budget focused on harnessing energies of New India: Rajnath Singh Union Budget 2022 : Defence Minister Rajnath Singh on Tuesday described the proposal in the Union Budget as an "excellent …

Budget 2022: Govt committed to reduce imports in defense sector, says FM Sitharaman
2 years, 10 months ago

Budget 2022: Govt committed to reduce imports in defense sector, says FM Sitharaman

India TV News  

Highlights Govt is committed to reduce imports and promote self-reliance in defence sector, says FM Sitharaman FM said that 68 per cent of capital for defence sector would be earmarked for the local industry Sitharaman also said that 5 pc of USO Fund would be provided for R&D and technology upgradation The government is committed to reduce imports and promote …

Army, IAF Struggle to Exhaust Capital Budget, Defence Minister Asks to Expedite Spending
2 years, 10 months ago

Army, IAF Struggle to Exhaust Capital Budget, Defence Minister Asks to Expedite Spending

News 18  

The defence services have recorded an unusually slow pace of expenditure of their capital budgets so far for 2021-22, even as the financial year draws to a close in little more than two months, News18.com has learnt. Defence sources told News18.com that, so far, the Army has spent the lowest — approximately 40% — of its capital budget for the …

India Could Axe Pending Defence Buys from Abroad as In-Principle Call to Stop All Imports Triggers Massive Review
2 years, 11 months ago

India Could Axe Pending Defence Buys from Abroad as In-Principle Call to Stop All Imports Triggers Massive Review

News 18  

The Defence Ministry has been carrying out a massive review since the last month of all its ongoing and planned global procurement cases, after an in-principle call to stop further import of defence equipment was taken in an internal meeting in December chaired by Defence Secretary Ajay Kumar, News18.com has learnt. “Additionally, all ongoing foreign procurement cases are also being …

Defence, aerospace manufacturing sector will surge to ₹1 lakh cr in 2022: Rajnath Singh
3 years ago

Defence, aerospace manufacturing sector will surge to ₹1 lakh cr in 2022: Rajnath Singh

Live Mint  

Defence Minister Rajnath Singh on Saturday said that India's defence and aerospace manufacturing sector will escalate to ₹1 lakh crore in 2022. The current budget for the defence and aerospace manufacturing sector is ₹85000 crore. The contribution of the private sector in India's defence and aerospace manufacturing will rise to over Rs1 lakh crore by 2047 from around Rs18,000 crore …

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